Quadplex with Ocean-View Top
For Sale
$1,089,900
1511 Holly Dr., North Myrtle Beach, SC 29582
MULTI_FAMILY - North Myrtle Beach, SC
Property Size5,088 SF
Price / SF$214.21
Days on Market29
Property Features for 1511 Holly Dr.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Carport
Lot features
East of Bus. 17, Inside City Limits, Oceanview, East of Highway 17 Bypass
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11C North Myrtle Beach Area--Crescent Beach
Standard status
Active
Size
5,088 SF
Utilities
Utilities
Cable Available
Building Details
Year built
1991
Number of units
4
Listing Agency:
Sloan Realty Group
(843) 213-1346
Listed By:
Barron Calvert · License #103055
(843) 421-5197
Added: Jul 7
Changed: Jul 13
Last Checked: Aug 4 at 4:06AM
MLS# 2617109
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex includes four separate units, with a private top floor offering ocean views. Three of the units are configured with 2 bedrooms and 2 bathrooms, while the top-floor unit offers 3 bedrooms and 2 bathrooms. The property also has abundant storage, including six large storage units, with one dedicated storage unit for each tenant, an additional storage unit for Unit 1, and separate owner storage space. Three HVAC systems were replaced within the last six years, and an HVAC maintenance contract is set to convey with the new owner.
Located less than two blocks from the ocean in North Myrtle Beach, the property provides walking-distance access to the beach. The remarks also indicate easy access to swimming, sunbathing, and the Ocean Drive district, which features restaurants, shopping, live music, and entertainment.
Designed for versatile income use, this property may appeal to investors seeking a currently fully occupied four-unit asset, or homeowners looking for a multi-unit setup that can support either short-term or long-term rentals. With multiple bedroom configurations across the four units, the quadplex offers flexibility for tenant mix while maintaining dedicated storage and recent HVAC replacements.
Located less than two blocks from the ocean in North Myrtle Beach, the property provides walking-distance access to the beach. The remarks also indicate easy access to swimming, sunbathing, and the Ocean Drive district, which features restaurants, shopping, live music, and entertainment.
Designed for versatile income use, this property may appeal to investors seeking a currently fully occupied four-unit asset, or homeowners looking for a multi-unit setup that can support either short-term or long-term rentals. With multiple bedroom configurations across the four units, the quadplex offers flexibility for tenant mix while maintaining dedicated storage and recent HVAC replacements.
Key Highlights
- Quadplex built in 1991 with four individual units, including a private top‑floor unit
- Top‑floor unit features 3 bedrooms and 2 bathrooms (ocean views)
- Three units each feature 2 bedrooms and 2 bathrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.2k | $15.36 |
| − Vacancy | −$3.9k | −$0.77 |
| EGI | $74.2k | $14.59 |
| − OpEx | −$22.3k | −$4.38 |
| NOI | $52.0k | $10.21 |
5,088 SF · lease $15.36/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$742.4K
$649.6K – $866.2K
NOI $51,971 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$671.0K
$587.1K – $782.8K
NOI $46,969 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,265 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex features four units, including a private top-floor layout with ocean views and multiple HVAC updates.
Where is this quadplex located?
The property is located at 1511 Holly Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,089,900.
What are key features of this property?
This property features: Quadplex built in 1991 with four individual units, including a private top‑floor unit; Top‑floor unit features 3 bedrooms and 2 bathrooms (ocean views); Three units each feature 2 bedrooms and 2 bathrooms
